CPM Group Trade Signal - December 2nd 2019
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Prices as of 10:04 a.m. EST (15h04m GMT) 2 December 2019 $1,467.40 (Basis the February 2020 Comex Contract).
Target Price / Range: $1,457 - $1,472
Timeframe: 02-12-2019 to 06-12-2019
Gold prices have been moving in a relatively narrow range since the second week of November. The latest data and news provides little clarity with regard to the global economy, with Chinese data stronger than expected and U.S. data weaker than expected. Growth around the world continues for the most part, although at low levels. Accommodative monetary policy is aiding along with some reduced rhetoric and friction between trading counterparts. There is still little clarity with regard to the U.S. China trade talks, with 15 December soon approaching. Technically, gold prices are in a slight downward trend. Barring any resurgence and escalation in traded disputes, gold is expected to head lower.
Note: Discretion should be allowed at +/- $0.50 from the target.
Disclaimer – Past performance is no indication or guarantee of anticipated future profits, and neither Kitco Metals Inc. nor CPM Group can accept any liability or responsibility for any loss suffered as a result of gold price fluctuations. Gold as a commodity is not a specified investment for the purpose of giving advice under the Financial Services and Markets Act 2000. Therefore this trade recommendation does not give rise to rights to claim compensation under the Financial Services Compensation Scheme. CPM Group is a registered CTA with the U.S. NFA and CFTC. At times the principals and associates of CPM Group may have positions in the precious metals, commodity, and equities markets. CPM Group also manages investment and industrial positions in markets for its clients.